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Module 13 (Part A : Overview of the GST (p.839) (value and price (Price :…

- - - - must register for GST
        
        projected GST turnover
        
        current GST
        
        exclusion (p.854)
    - - supply made on behalf (p.846)
      - two-way supply - some circumstances both parties may be making a supply (p.845)
      - composite supply (p.845)
      - mixed supply (p.845)
      - Real property is also defined in s. 195-1 as including any interest in or right over land (p.844)
      - goods to mean ‘any form of tangible personal property (p.844)
      - grants of money (p.846)
    - - Voucher
      - Security deposits (p.856)
      - customer loyal program (p.856)
      - fines, penalty and taxes (p.857
      - Court orders and out-of-court settlements (p.857
      - Consignment sales by ‘sale or return’ (p.857)
  - - - Food (p.858)
      - Health (p.858)
      - Education (p.859)
      - Child care (p.859)
      - Exports (p.859)
      - Religious services (p.859)
      - Non-commercial activities of, and second-hand goods supplied by, charitable institutions (p.859)
      - Water & sewage (p.860)
      - Supply of a going concern (p.860)
      - Transport (p.860)
      - precious metal (by refiner or their agent only) (p.860)
      - Grants of freehold and similar interests by government (p.861)
      - Farming land (p.861)
      - Supplies through inwards duty-free shops (p.860)
      - Car for use by disable people (p.861)
      - International mail (p.861)
    - - registered entity (i.e. the supplier) is not liable for the 10 per cent GST on supplies to the consumer
      - financial supplies
      - supplies of residential rent
      - supplies of residential premises
        
        not input taxes
        
        Commercial residential premises
        
        New residential premises
  - - - direct method
      - indirect method
    - - Amount of input tax credit (p.871)
      - Creditable acquisition
        
        Acquisition (p.872)
        
        Creditable purpose (p.872)
        
        partly creditable acquisitions
      - creditable importations
      - special input tax credit rules
        
        company pre-establishment costs
        
        can claim input tax credit if satisfy 4 requirements (p.875)
        
        reimbursements of employees or agents
        
        second-hand good
        
        real property margin scheme
        
        acquisition from government
        
        "reduced" input tax credit for financial supplies
        
        restrictions to input tax credits on settlement of insurance claim
- - - - monthly
        
        carrying on an enterprise < 3 months; pr
        
        has a history of failing to comply with tax obligations
        
        GST turnover >= $20 million; or
        
        require to lodge BAS no later than 21st day of the following month
      - quarterly
      - SBE paid each quarter and only an annual return is lodged
      - eligible GST-registered entity can elect to report and pay GST on an annual basis rather than monthly or quarterly.
    - - cash method;
      - accruals method
      - special attribution rules
        
        Written determinations to vary the attribution rules
        
        lay-bys
        
        second-hand goods
        
        Simplified accounting for small food retailers
        
        Annual apportionment of creditable purpose
        
        Simplified accounting for small food retailers
        
        Annual apportionment of creditable purpose
    - - Adjustment events under Division 19 (p.884)
      - change in creditable purpose
      - settlement of insurance claims
      - goods applied solely for private use
      - newly registered entities
      - third-party payements
  - - - branch of a registered entity can be treated as separate GST entity if qualified certain conditions (p. 892)